Anti-Money Laundering – Industry News

HSBC is paying $2 billion, or 5 weeks’ worth of its profit, to avoid criminal charges in drug cartel laundering case The Justice Department agreed to suspend criminal charges against the world’s largest bank and its US subsidiary for five years if the bank agreed to pay the penalty. US regulators continue to find weaknesses…

Anti-Corruption Compliance – Industry News

Union ready to enlist PQ help to stop inquiry /The Canadian Press, Montreal, Jan. 21, 2014/ –  A wiretap conversation heard at Quebec’s corruption inquiry suggests the province’s largest labour federation was ready to enlist the help of friends at the Parti Quebecois to make sure such a probe didn’t take place. The wiretap is…

Anti-Money Laundering Industry News

Banks to face US Justice Department action against money laundering: Report /Reuters, Jan. 10, 2014/ –  The US Justice Department plans additional enforcement actions against banks that do not have enough safeguards against money laundering, the acting head of the department’s criminal division said in an interview to the Wall Street Journal. [Read More…] A…

Anti-Corruption Compliance Industry News

Martinrea shares drop after new allegations Nov. 25, 2013 /Greg Keenan, The Globe and Mail/ – The Toronto-based auto parts company, some of its senior executives, some directors and its former chief executive officer is facing a lawsuit launched earlier this year that accused them of breaching their fiduciary duties and engaging in corrupt practices. [Read More…]…